pSivida Corp. (PSDV) Expected to Announce Quarterly Sales of $740,000.00
Wall Street analysts forecast that pSivida Corp. (NASDAQ:PSDV) will announce $740,000.00 in sales for the current quarter, Zacks reports. Two analysts have provided estimates for pSivida Corp.’s earnings, with the lowest sales estimate coming in at $550,000.00 and the highest estimate coming in at $920,000.00. pSivida Corp. posted sales of $280,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 164.3%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, November 7th.
On average, analysts expect that pSivida Corp. will report full-year sales of $740,000.00 for the current financial year, with estimates ranging from $2.30 million to $4.26 million. For the next fiscal year, analysts forecast that the firm will post sales of $0.00 per share. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow pSivida Corp..
pSivida Corp. (NASDAQ:PSDV) last announced its quarterly earnings results on Monday, September 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.48 million. pSivida Corp. had a negative net margin of 245.19% and a negative return on equity of 134.34%.
Separately, HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of pSivida Corp. in a research note on Wednesday, September 27th. Five investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $8.60.
A hedge fund recently raised its stake in pSivida Corp. stock. Renaissance Technologies LLC lifted its holdings in shares of pSivida Corp. (NASDAQ:PSDV) by 6.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 963,043 shares of the company’s stock after buying an additional 56,043 shares during the period. Renaissance Technologies LLC owned about 2.82% of pSivida Corp. worth $1,656,000 as of its most recent filing with the SEC. 14.94% of the stock is owned by hedge funds and other institutional investors.
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About pSivida Corp.
pSivida Corp. develops drug delivery products primarily for the treatment of chronic eye diseases. The Company operates through the biotechnology sector segment. The Company has developed three products for treatment of back-of-the-eye diseases, which include Medidur for posterior segment uveitis, its lead product candidate that is in pivotal Phase III clinical trials; ILUVIEN for diabetic macular edema (DME), its lead licensed product that is sold in the United States and European Union (EU) countries, and Retisert.
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